The landmark Wellington Street building, which was home to both the Yorkshire Post and Yorkshire Evening Post titles for more than 40 years, has been sold.
The contracts for the 4.75 acre site were exchanged today (March 19) and it is understood that the main phase of demolition work will start in about three to four weeks.
A Yorkshire-based private investor bought the site for an undisclosed sum.
The building, which was officially opened by Prince Charles in December 1970, was placed on the market at the end of 2012 following the relocation of Yorkshire Post Newspapers’ staff to new premises at No1 Leeds, on Whitehall Road.
The site has been bought ‘unconditionally’ and plans are being worked up for a number of possible uses, including a conference centre, offices, a hotel, private residential and leisure facilities or a combination of these in a major mixed-use scheme.
Paul Fox, of joint agents Fox Lloyd Jones, who sold the site on behalf of Johnston Press plc, said: “On the back of a national marketing campaign we received a wide range of differing interests in the site reflective of its commanding gateway position and the additional benefit of the unexplored riverside frontage.
“The successful purchaser demonstrated an ability to perform unconditionally and swiftly, and shared the city’s aspirations for a major landmark scheme for Leeds.
“It is an extensive site, which will become more apparent once the building is demolished and the area is opened up, which is expected by the end of June.
“Indicatively, it’s the same size site as that housing the First Direct Arena and being such an important western gateway to the city the site could accommodate a user similar to that of the arena.
“It is undoubtedly one of the best development opportunities to come to the market in Leeds in recent years.
“The west end of the city is currently seeing significant activity with a number of high quality mixed-use schemes now being brought forward.
“We believe that the Yorkshire Post site will provide the perfect extension and gateway to this activity, as the city centre grows in that direction.”